Latest / Clinician to CEO : Export Your Medical Device With Confidence By Overcoming Go To Market Roadblocks For Medtech Growth / #192 | The Top 3 Mistakes Clinicians Make When Launching Medical Devices, And How To Achieve Market Exporting Readiness

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#192 | The Top 3 Mistakes Clinicians Make When Launching Medical Devices, And How To Achieve Market Exporting Readiness · Clinician to CEO : Export Your Medical Device With Confidence By Overcoming Go To Market Roadblocks For Medtech Growth

• 0:00
  In
• 0:00
  this
• 0:00
  episode,
• 0:00
  you're
• 0:00
  gonna
• 0:01
  discover
• 0:01
  why
• 0:02
  developing
• 0:02
  a
• 0:02
  successful
• 0:03
  commercial
• 0:04
  strategy
• 0:04
  alongside
• 0:05
  your
• 0:05
  regulatory
• 0:05
  process
• 0:06
  is
• 0:06
  critical
• 0:07
  for
• 0:07
  your
• 0:07
  MedTech
• 0:08
  launch
• 0:08
  success.
• 0:09
  Welcome
• 0:10
  to
• 0:10
  Clinician
• 0:10
  to
• 0:10
  CEO,
• 0:11
  the
• 0:12
  podcast
• 0:12
  helping
• 0:13
  clinicians
• 0:13
  simplify
• 0:14
  your
• 0:14
  go-to-market
• 0:15
  strategy
• 0:15
  so
• 0:16
  that
• 0:16
  you
• 0:16
  can
• 0:16
  stop
• 0:16
  guessing
• 0:17
  and
• 0:17
  turn
• 0:18
  your
• 0:18
  working
• 0:18
  prototypes
• 0:19
  into
• 0:19
  international
• 0:20
  MedTech
• 0:20
  businesses.
• 0:21
  I'm
• 0:22
  your
• 0:22
  host,
• 0:22
  Hakeem
• 0:23
  Aade.
• 0:23
  Let's
• 0:24
  get
• 0:24
  started.
• 0:25
  In
• 0:25
  this
• 0:25
  episode,
• 0:26
  you're
• 0:26
  gonna
• 0:26
  discover
• 0:27
  three
• 0:27
  things.
• 0:28
  Number
• 0:28
  one,
• 0:29
  why
• 0:29
  approval
• 0:30
  is
• 0:30
  the
• 0:30
  starting
• 0:30
  line
• 0:31
  and
• 0:31
  not
• 0:31
  the
• 0:31
  finish.
• 0:32
  Number
• 0:32
  two,
• 0:33
  the
• 0:33
  difference
• 0:33
  between
• 0:34
  activity
• 0:35
  and
• 0:35
  real,
• 0:35
  commercial
• 0:36
  strategy.
• 0:37
  And
• 0:37
  number
• 0:37
  three,
• 0:38
  what
• 0:38
  needs
• 0:39
  to
• 0:39
  be
• 0:39
  in
• 0:39
  place
• 0:40
  so
• 0:40
  buyers
• 0:41
  are
• 0:41
  waiting
• 0:41
  when
• 0:42
  you
• 0:42
  launch
• 0:42
  now
• 0:43
  we'll
• 0:43
  test
• 0:43
  how
• 0:44
  that
• 0:44
  plays
• 0:44
  out
• 0:44
  in
• 0:44
  the
• 0:44
  real
• 0:45
  world
• 0:45
  with
• 0:45
  a
• 0:46
  decision
• 0:46
  scenario
• 0:46
  that
• 0:46
  I
• 0:47
  posed
• 0:47
  in
• 0:47
  my
• 0:47
  last
• 0:47
  episode,
• 0:48
  and
• 0:48
  this
• 0:48
  is
• 0:49
  one
• 0:49
  that
• 0:49
  most
• 0:50
  MedTech
• 0:50
  companies
• 0:51
  get
• 0:51
  wrong.
• 0:52
  So
• 0:52
  the
• 0:52
  decision
• 0:53
  scenario,
• 0:53
  imagine
• 0:54
  you
• 0:54
  are
• 0:54
  guiding
• 0:55
  a
• 0:55
  MedTech
• 0:55
  startup
• 0:56
  that's
• 0:56
  progressing
• 0:57
  through
• 0:57
  regulatory
• 0:57
  approval
• 0:58
  for
• 0:58
  that
• 0:58
  device,
• 0:59
  early
• 0:59
  signal,
• 0:59
  the
• 1:00
  positive.
• 1:00
  But
• 1:00
  they
• 1:00
  have
• 1:01
  not
• 1:01
  yet
• 1:01
  developed
• 1:02
  a
• 1:02
  clear
• 1:02
  commercial
• 1:03
  strategy
• 1:03
  for
• 1:03
  market
• 1:04
  entry.
• 1:04
  Do
• 1:05
  you
• 1:05
  a
• 1:05
  focus
• 1:06
  solely
• 1:06
  on
• 1:06
  refining
• 1:07
  the
• 1:07
  products
• 1:08
  based
• 1:08
  on
• 1:08
  feedback
• 1:08
  from
• 1:09
  regulatory
• 1:09
  authorities?
• 1:10
  Before
• 1:10
  considering
• 1:11
  market
• 1:11
  entry,
• 1:11
  do
• 1:11
  you
• 1:12
  B
• 1:12
  launch
• 1:13
  the
• 1:13
  products
• 1:13
  immediately
• 1:13
  to
• 1:13
  capitalize
• 1:14
  on
• 1:14
  regulatory
• 1:14
  approval,
• 1:15
  even
• 1:15
  with
• 1:16
  minimal
• 1:16
  market
• 1:17
  analysis?
• 1:17
  Do
• 1:17
  you
• 1:18
  see
• 1:18
  developer
• 1:19
  comprehensive
• 1:19
  commercial
• 1:20
  strategy
• 1:20
  parallel
• 1:20
  to
• 1:21
  ongoing
• 1:21
  regulatory
• 1:21
  processes
• 1:22
  to
• 1:22
  ensure
• 1:23
  market
• 1:23
  readiness?
• 1:24
  Or
• 1:24
  do
• 1:24
  you
• 1:24
  d
• 1:25
  partner
• 1:25
  with
• 1:25
  an
• 1:25
  external
• 1:26
  commercial
• 1:26
  or
• 1:27
  marketing
• 1:27
  firms
• 1:27
  to
• 1:27
  lead
• 1:28
  market
• 1:28
  entry
• 1:29
  while
• 1:29
  you
• 1:29
  focus
• 1:30
  internally
• 1:30
  on
• 1:31
  product
• 1:31
  and
• 1:32
  Regulatory
• 1:33
  execution.
• 1:34
  Over
• 1:34
  to
• 1:34
  you,
• 1:34
  Karen.
• 1:34
  Deep.
• 1:34
  So
• 1:35
  my
• 1:35
  answer
• 1:35
  will
• 1:35
  be,
• 1:36
  C,
• 1:36
  develop
• 1:37
  a
• 1:37
  comprehensive
• 1:38
  commercial
• 1:38
  strategy
• 1:39
  parallel
• 1:39
  to
• 1:40
  the
• 1:40
  ongoing
• 1:40
  regulatory
• 1:41
  processes
• 1:42
  to
• 1:42
  ensure
• 1:42
  market
• 1:43
  readiness.
• 1:44
  And
• 1:44
  the
• 1:44
  reasoning
• 1:44
  for
• 1:44
  that
• 1:45
  is
• 1:45
  A
• 1:46
  does
• 1:46
  optimize
• 1:46
  the
• 1:47
  device,
• 1:47
  but
• 1:47
  that
• 1:47
  is,
• 1:48
  it
• 1:48
  optimizes
• 1:48
  it
• 1:48
  for
• 1:49
  regulators,
• 1:49
  not
• 1:49
  the
• 1:50
  buyers
• 1:50
  themselves.
• 1:51
  So
• 1:51
  you
• 1:51
  can
• 1:51
  nail
• 1:51
  the
• 1:51
  technical
• 1:52
  fo,
• 1:52
  have
• 1:52
  a
• 1:52
  strong
• 1:53
  quality
• 1:53
  management
• 1:53
  system.
• 1:54
  You're
• 1:54
  just
• 1:54
  gonna
• 1:54
  end
• 1:54
  up
• 1:55
  launching
• 1:55
  into
• 1:55
  silence.
• 1:56
  You
• 1:56
  know,
• 1:56
  re
• 1:56
  your
• 1:57
  feedback
• 1:57
  is
• 1:57
  not
• 1:58
  always
• 1:58
  sufficient
• 1:58
  to
• 1:58
  say
• 1:59
  that
• 1:59
  there's
• 1:59
  gonna
• 1:59
  be
• 1:59
  enough
• 2:00
  sales
• 2:00
  from
• 2:00
  it
• 2:00
  as
• 2:00
  well.
• 2:01
  Now,
• 2:01
  B
• 2:01
  is
• 2:02
  basically
• 2:02
  a
• 2:03
  wastes
• 2:03
  runway.
• 2:04
  Approval
• 2:04
  does
• 2:04
  not
• 2:04
  automatically
• 2:05
  mean
• 2:05
  demand.
• 2:06
  So
• 2:06
  launching
• 2:07
  without
• 2:07
  sort
• 2:07
  of
• 2:07
  segmentation
• 2:08
  pricing
• 2:09
  in
• 2:09
  mind
• 2:09
  at
• 2:09
  a
• 2:09
  proper
• 2:10
  channel
• 2:10
  just
• 2:10
  ends
• 2:10
  up
• 2:11
  burning
• 2:11
  cash
• 2:11
  much
• 2:11
  faster
• 2:12
  than
• 2:12
  a
• 2:12
  short
• 2:12
  delay
• 2:12
  would.
• 2:13
  So
• 2:13
  it's
• 2:13
  very
• 2:13
  important
• 2:14
  to
• 2:14
  understand
• 2:14
  that.
• 2:14
  Now,
• 2:15
  D
• 2:15
  on
• 2:15
  the
• 2:15
  other
• 2:15
  hand,
• 2:16
  does
• 2:16
  sound
• 2:16
  quite
• 2:17
  pragmatic
• 2:17
  on
• 2:18
  the
• 2:18
  early
• 2:18
  view
• 2:18
  of
• 2:18
  it.
• 2:19
  But
• 2:19
  it's
• 2:19
  the
• 2:19
  most
• 2:19
  common
• 2:20
  trap
• 2:20
  of
• 2:20
  sort
• 2:20
  of
• 2:20
  commission
• 2:21
  founders,
• 2:21
  what
• 2:21
  I
• 2:21
  find.
• 2:22
  So
• 2:22
  outsourcing
• 2:23
  commercialization
• 2:23
  does
• 2:24
  remove
• 2:24
  the
• 2:24
  founder
• 2:25
  from
• 2:25
  the
• 2:25
  customer
• 2:25
  learning
• 2:26
  loop
• 2:26
  at
• 2:26
  the
• 2:26
  exact
• 2:26
  stage
• 2:27
  when
• 2:27
  they're
• 2:27
  actually
• 2:27
  needed,
• 2:28
  and
• 2:28
  that's
• 2:28
  where
• 2:28
  the
• 2:28
  product
• 2:29
  fit
• 2:29
  is
• 2:29
  still
• 2:29
  being
• 2:29
  discovered.
• 2:30
  And
• 2:30
  it's
• 2:30
  very
• 2:30
  important
• 2:31
  that
• 2:31
  the
• 2:31
  founder's
• 2:31
  part
• 2:31
  of
• 2:32
  that.
• 2:32
  So
• 2:32
  a
• 2:32
  marketing
• 2:32
  firm,
• 2:33
  yes,
• 2:33
  they
• 2:33
  can
• 2:33
  execute
• 2:34
  a
• 2:34
  plan.
• 2:34
  They
• 2:34
  can't
• 2:35
  necessarily
• 2:35
  go
• 2:35
  out
• 2:35
  and
• 2:35
  find
• 2:36
  one.
• 2:36
  It's
• 2:36
  better
• 2:36
  to
• 2:37
  bring
• 2:37
  them
• 2:37
  in
• 2:37
  post
• 2:37
  traction,
• 2:38
  not
• 2:38
  pre.
• 2:38
  So
• 2:39
  the
• 2:39
  reason
• 2:39
  I
• 2:39
  went
• 2:40
  for
• 2:40
  C
• 2:40
  as
• 2:40
  the
• 2:40
  answer
• 2:41
  is
• 2:41
  because
• 2:41
  regulatory
• 2:42
  and
• 2:42
  commercial
• 2:43
  are
• 2:43
  parallel
• 2:43
  tracks,
• 2:44
  not
• 2:44
  sequential
• 2:44
  ones,
• 2:45
  of
• 2:45
  course.
• 2:45
  Waiting
• 2:46
  for
• 2:46
  approval
• 2:46
  before
• 2:47
  commercial
• 2:47
  planning,
• 2:47
  you
• 2:48
  can
• 2:48
  end
• 2:48
  up
• 2:48
  losing,
• 2:48
  months,
• 2:49
  maybe
• 2:49
  even
• 2:49
  years
• 2:50
  of
• 2:50
  actual
• 2:50
  market
• 2:51
  time
• 2:51
  as
• 2:51
  well.
• 2:51
  So
• 2:51
  the
• 2:51
  founders
• 2:52
  of
• 2:52
  actually
• 2:52
  winning
• 2:53
  this
• 2:53
  game
• 2:53
  are
• 2:53
  the
• 2:53
  ones
• 2:54
  that
• 2:54
  sort
• 2:54
  of
• 2:54
  build
• 2:54
  the
• 2:55
  commercial
• 2:55
  place
• 2:55
  in
• 2:56
  place,
• 2:56
  have
• 2:56
  the
• 2:56
  KOL
• 2:57
  network
• 2:57
  and
• 2:58
  of
• 2:58
  course
• 2:58
  the
• 2:58
  first
• 2:58
  customer
• 2:59
  pipeline
• 2:59
  waiting
• 3:00
  whilst
• 3:00
  the
• 3:00
  submission
• 3:00
  is
• 3:01
  about
• 3:01
  to
• 3:01
  go
• 3:01
  for
• 3:01
  approval.
• 3:02
  So
• 3:02
  by
• 3:02
  the
• 3:02
  time
• 3:03
  that
• 3:03
  submission
• 3:03
  is
• 3:03
  approved,
• 3:04
  they
• 3:04
  already
• 3:04
  have
• 3:04
  the
• 3:05
  buyers
• 3:05
  waiting.
• 3:05
  So
• 3:06
  the
• 3:06
  bit
• 3:06
  I
• 3:06
  completely
• 3:07
  agree
• 3:07
  with
• 3:08
  Karen
• 3:08
  Deep
• 3:08
  here
• 3:09
  is
• 3:09
  the
• 3:09
  idea
• 3:10
  that
• 3:10
  regulatory
• 3:11
  and
• 3:11
  commercial
• 3:11
  running
• 3:12
  parallel.
• 3:13
  But
• 3:13
  here's
• 3:13
  where
• 3:13
  I'd
• 3:13
  push
• 3:13
  that
• 3:14
  a
• 3:14
  little
• 3:14
  step
• 3:14
  further.
• 3:15
  Because
• 3:15
  most
• 3:15
  founders
• 3:16
  don't
• 3:16
  delay
• 3:16
  commercial
• 3:17
  strategy.
• 3:17
  They'll
• 3:18
  actually
• 3:18
  convince
• 3:18
  themselves
• 3:19
  that
• 3:19
  they're
• 3:19
  doing
• 3:20
  it
• 3:20
  when
• 3:20
  they're
• 3:20
  actually
• 3:21
  not
• 3:21
  A
• 3:21
  few
• 3:21
  conversations
• 3:22
  at
• 3:22
  conference
• 3:22
  isn't
• 3:23
  strategy.
• 3:23
  A
• 3:23
  distributor
• 3:24
  saying,
• 3:24
  yeah,
• 3:25
  we'd
• 3:25
  be
• 3:25
  interested.
• 3:26
  That's
• 3:26
  not
• 3:26
  strategy
• 3:27
  either.
• 3:27
  And
• 3:27
  a
• 3:27
  deck
• 3:28
  with
• 3:28
  a
• 3:28
  market
• 3:28
  size
• 3:28
  slide
• 3:29
  definitely
• 3:29
  isn't
• 3:30
  strategy,
• 3:30
  but
• 3:31
  you
• 3:31
  and
• 3:31
  I
• 3:32
  will
• 3:32
  have
• 3:32
  all
• 3:32
  seen
• 3:33
  these
• 3:33
  things
• 3:33
  wrapped
• 3:34
  up
• 3:34
  as
• 3:34
  strategy.
• 3:35
  So
• 3:35
  if
• 3:35
  you
• 3:35
  haven't
• 3:35
  answered
• 3:36
  three
• 3:36
  things
• 3:36
  before
• 3:36
  approval,
• 3:37
  you're
• 3:37
  in
• 3:37
  trouble.
• 3:38
  And
• 3:38
  those
• 3:38
  three
• 3:38
  things
• 3:39
  are,
• 3:39
  number
• 3:39
  one,
• 3:40
  who
• 3:40
  actually
• 3:41
  signed
• 3:41
  the
• 3:41
  checks?
• 3:42
  Number
• 3:42
  two,
• 3:42
  why
• 3:43
  would
• 3:43
  they
• 3:43
  switch
• 3:44
  from
• 3:44
  what
• 3:44
  they're
• 3:44
  doing
• 3:45
  today?
• 3:45
  So
• 3:45
  what
• 3:45
  you
• 3:46
  want
• 3:46
  'em
• 3:46
  to
• 3:46
  do.
• 3:46
  And
• 3:46
  then
• 3:47
  number
• 3:47
  three,
• 3:47
  how
• 3:47
  are
• 3:47
  you
• 3:47
  consistently
• 3:48
  getting
• 3:48
  in
• 3:48
  front
• 3:49
  of
• 3:49
  them?
• 3:49
  So
• 3:49
  if
• 3:49
  those
• 3:50
  aren't
• 3:50
  clear,
• 3:50
  approval
• 3:50
  doesn't
• 3:51
  unlock
• 3:51
  anything.
• 3:51
  And
• 3:52
  this
• 3:52
  is
• 3:52
  why
• 3:52
  so
• 3:52
  many
• 3:53
  MedTech
• 3:53
  companies
• 3:54
  hit
• 3:54
  approval
• 3:55
  and
• 3:55
  then
• 3:55
  just
• 3:55
  stall.
• 3:56
  Not
• 3:56
  because
• 3:56
  the
• 3:56
  product
• 3:57
  isn't
• 3:57
  good,
• 3:57
  because
• 3:58
  nobody
• 3:58
  built
• 3:59
  the
• 3:59
  path
• 3:59
  to
• 3:59
  the
• 4:00
  market,
• 4:00
  and
• 4:00
  that
• 4:01
  is
• 4:01
  the
• 4:01
  commercial
• 4:02
  plan,
• 4:02
  and
• 4:02
  that
• 4:03
  needs
• 4:03
  to
• 4:03
  be
• 4:03
  done
• 4:04
  in
• 4:04
  parallel
• 4:05
  to
• 4:06
  the
• 4:06
  regulatory
• 4:06
  plan.
• 4:07
  And
• 4:07
  if
• 4:07
  you're
• 4:07
  building
• 4:08
  a
• 4:08
  MedTech
• 4:09
  business
• 4:10
  and
• 4:10
  you're
• 4:10
  not
• 4:10
  sure
• 4:10
  whether
• 4:11
  your
• 4:11
  next
• 4:11
  move
• 4:11
  should
• 4:11
  be
• 4:12
  around
• 4:12
  evidence,
• 4:13
  market
• 4:13
  access,
• 4:13
  commercialization,
• 4:14
  distributor
• 4:15
  strategy.
• 4:15
  Or
• 4:16
  adoption.
• 4:16
  Do
• 4:17
  not
• 4:17
  guess.
• 4:18
  Book
• 4:18
  a
• 4:18
  healthcare
• 4:19
  export
• 4:19
  accelerator
• 4:20
  diagnostic
• 4:20
  Call
• 4:21
  with
• 4:21
  me.
• 4:21
  Use
• 4:22
  my
• 4:22
  link
• 4:22
  in
• 4:22
  the
• 4:22
  show
• 4:23
  notes.
• 4:23
  And
• 4:23
  in
• 4:24
  that
• 4:24
  session
• 4:24
  I'll
• 4:25
  help
• 4:25
  you
• 4:25
  identify
• 4:26
  the
• 4:26
  specific
• 4:26
  constraints
• 4:27
  blocking
• 4:28
  your
• 4:28
  momentum
• 4:29
  and
• 4:29
  the
• 4:29
  commercial
• 4:30
  move
• 4:30
  most
• 4:31
  likely
• 4:31
  to
• 4:31
  unlock
• 4:32
  your
• 4:32
  progress.
• 4:33
  Thanks
• 4:33
  for
• 4:33
  tuning
• 4:33
  in.
• 4:34
  Until
• 4:34
  next
• 4:34
  time,
• 4:35
  thanks
• 4:35
  for
• 4:35
  listening.
• 4:36
  Keep
• 4:36
  challenging
• 4:37
  your
• 4:37
  assumptions
• 4:38
  and
• 4:38
  keep
• 4:38
  growing.